2 Marijuana Stocks To Watch On Friday
Marijuana stocks have been facing a bit of volatile trading in the last few weeks. Much of the fluctuation in trading has been in regards to the uncertainty of federal cannabis reform. This week Senate Majority Leader Chuck Schumer has finally revealed his long-awaited reform bill. This draft highlighted many details and information about this potential bill.
This release was just a draft that gave people an inside look at what’s going on. Now prior to Schumer releasing this draft the announcement alone did cause some marijuana stocks to have some upward trading. Furthermore, some felt on the day the draft was made public that the same results would follow. Which they did not in fact the sector began to drop in trading.
This was due fro the lack of support in the White House which played part in the loss of trading momentum. White House press secretary Jen Psaki wanted to reconfirm that President Biden is still opposed to federal cannabis reform. When she came forth shortly after the draft bill was released many cannabis stocks felt the immediate impact of those words. This created a bit of caution for those who have invested in legal marijuana in some form.
Yet overall the progress of the cannabis industry from more states legalizing cannabis to the growth of marijuana companies has been solid. This progress will ultimately be leverage towards congress passing some type of federal cannabis bill. With all the money that is being made in each state eventually, congress will want its piece of the action. In 2021 alone more money has been made in a single year than any other year in the industry which is a huge milestone. Currently, more people even without federal reform are looking for ways to become invested in legal cannabis.
Top Cannabis Stocks To Watch This Month
[Read More] 2 Marijuana Stocks For Your Investment Portfolio
TPCO Holding Corp.
TPCO Holding Corp. cultivates, extracts, manufactures, distributes, retails, and delivers cannabis in California. The company offers approximately 17 owned and licensed brands offering 250 stock-keeping units across 20 form factors. Such as jarred and bagged whole flower, pre-rolls, infused pre-rolls, bulk extracts, vaporizer cartridges. As well as ready-to-use vapes, concentrates, gummies, chocolate, beverages, capsules, tinctures, lozenges, topicals, bath bombs, and body care products.
It also offers its products under the Monogram, Caliva, Mind Your Head, Mirayo by Santana, Soul Spring, and other brands, as well as through Caliva.com, a direct-to-consumer e-commerce platform. The company grew with more notoriety once Jay Z became the Chief Visionary Officers. In the last 2-3months of trading, GRAMF stock has not had the best of luck. The first few days of May it seemed like the company was on the path to better trading in the market. GRMAF stock went from $6.90 a share on April 20th to $7.97 on May 4th.
This small run generated a 15 percent increase during that time. Moving past this point the company started to drop the rest of May. Yet from the 13th to the 17th of May GRAMF had a small rise in trading before dropping once again Moving into June the company was still facing challenges in the market. Pretty much from June to now in July GRAMF stock has not been able to sustain enough upward trading momentum. Yet with more progress in the industry overall all hopefully it will add some positive sentiment for GRAMF stock in the future.
Fire & Flower Holdings Corp.
Fire & Flower Holdings Corp. owns and manages licensed cannabis facilities in state-licensed markets in the United States. The company operates in two segments, THC Cannabis and CBD Wellness. It produces and sells cannabis and CBD. As of December 31, 2020, it operated 5 dispensaries in Massachusetts, Illinois, Michigan primarily under the MISSION brand name.
In addition, the company sells equipment, supplies, and intellectual property to cannabis producers; imports and sells equipment and supplies. As well as leases real estate properties to cannabis producers offer consulting services, and operates cannabis dispensaries. In the last 8 weeks or so of trading FFLWF stock has been a volatile marijuana stock to watch. Since the start of May FFLWF stock has fluctuated in price quite often.
From May 3rd to the 11th FFLWF stock saw a small rise in trading before dropping down in the market. Now from the 13th of May to the 18th FFLWF stock saw a 6 percent rise in trading. At the moment it was a good sign to see as the company was performing too unpredictable for some investors to handle. For the rest of May, the company was still trading with volatility, and heading into June was starting to look better.
In the first 2 days of June, FFLWF stock saw a nice jump in trading. Unfortunately, this rise was short-lived as FFLWF stock fell even further in June. So far in July FFLWF stock has followed the same pattern and is currently down. With more time left in July, some believe better trading can happen at any moment with cannabis stock to watch
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